A report indicates India needs 2 billion sq ft of healthcare space due to a bed shortage relative to its population. Medical tourism and demographic shifts drive demand.
RBI revises norms for loans to hotels and hospitals, excluding them from commercial real estate exposure. Provisions for commercial real estate reduced, but may increase.
India's 2024 budget lacks major direct real estate tax changes, but personal income tax cuts may indirectly boost housing demand. The awaited REIT clarification and tax holiday for developers didn't materialize.
Haryana Urban Development Authority plans new sectors in 12 cities, offering residential plots and concessions for ex-servicemen, boosting infrastructure with hospitals and petrol pumps.